Guideline Value for KANDHASAMY NAGAR 2ND CROSS STREET

Kandhasamy Nagar 2nd Cross Street guideline value

The current guideline value of Kandhasamy Nagar 2nd Cross Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kandhasamy Nagar 2nd Cross Street has changed

The guideline value for Kandhasamy Nagar 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the Rs 1,005 per sq.ft established in the 2017 revision. However, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision further raised it to Rs 1,660 per sq.ft, marking an 11% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value from Rs 1,005 per sq.ft to Rs 1,500 per sq.ft. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, which is equal to the current guideline value of Kandhasamy Nagar 2nd Cross Street.

• Kandhasamy Nagar 1st Street: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar 2nd Street: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar 1st Cross Street: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar 3rd Street: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar: Rs 1,660 per sq.ft (2024)
• Kandhasamy Nagar 4th Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Kandhasamy Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, while the registration fee at 2% would be Rs 33,200. Together, the total cost for stamp duty and registration fee would be Rs 1,49,400. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kandhasamy Nagar 2nd Cross Street?

The Kandhasamy Nagar 2nd Cross Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vanagaram

The guideline value is an essential factor in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kandhasamy Nagar 2nd Cross Street?

The current guideline value of Kandhasamy Nagar 2nd Cross Street is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,660 per sq.ft in 2024. The value saw an increase of 49% from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Kandhasamy Nagar 2nd Cross Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the stamp duty percentage for properties in this area?

The stamp duty for properties in Kandhasamy Nagar 2nd Cross Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in Kandhasamy Nagar 2nd Cross Street?

The registration fee for properties in this area is charged at 2% of the guideline value or the sale price, whichever is higher.